Chances are you’ve probably heard of both Public Liability insurance* and Professional Indemnity insurance*, and while both provide a form of cover for your business, they are very different in what they protect your businesses from.

There are lots of things that go into making your business a success. Through solid planning having an idea about some of the risks your business may be exposed to, can help your business stay strong for the long haul.

Public Liability insurance covers legal fees and compensation costs if a customer, member of the public, or a supplier claims against you for injury or damage to their property as a result of your alleged negligent business activity. Having Public Liability insurance gives you peace of mind against potentially stressful, time-consuming and costly legal claims.

It’s important to understand the difference between Professional Indemnity and Public Liability insurance as the two types of cover can often cause confusion. Whilst both covers protect your business against legal action they offer different forms of protection.

If you’re a sole trader or small business owner, protecting your business and your customers with Public Liability insurance is one of the most important aspects. It offers protection should a customer, supplier, or even member of the public, sue your business for damage to their property. And whilst you probably take every care not to damage their property, it doesn’t mean you won’t be found negligent should an unwanted accident occur, or someone attempts to make a claim against you. As cliché as it sounds, accidents happen. If you don’t have Public Liability insurance you face the risk of being out of pocket for hefty legal and compensation costs that can potentially cripple your business.

BizCover launches a new website making it easier for Australian customers to compare and buy professional indemnity and business insurance online

As a small business owner, there is a lot to think about when running your own business. Whether it’s balancing the books, creating marketing plans or connecting with customers, the list goes on. But when it comes to protecting your business, it‘s crucial to understand the importance of business insurance and the different kinds of products that are available.

There is a whole host of things to think about when you work for yourself as an engineer, and while you might have heard of different types of engineering insurances, our guide is keeps it simple on all things Public Liability insurance* for engineers.

As a small business owner, there is a lot to think about when running your own business. Whether it’s balancing the books, creating marketing plans or connecting with customers, the list goes on. But when it comes to protecting your business, it‘s crucial to understand the importance of business insurance and the different kinds of products that are available.

So, you’ve got Public Liability cover… Is that enough?